Considered the backbone of America, manufacturing has not only played a pivotal role in our nation’s history, but it continues to be a driving force of American economic growth and development. From Henry Ford’s moving assembly line to modern Computer Aided Design (CAD) tools, the importance of manufacturing in America is undeniable, yet few fully recognize the full scope of it. Are you ready to open your eyes to just how truly vital American manufacturing is? Join us as we discuss the importance of U.S. Manufacturing.
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4 Highlights of the Importance of Manufacturing in America
1. It Contributes to Economic Stimulation
Manufacturing contributes significantly to the economy of America by generating a substantial amount of output. According to the National Association of Manufacturers (NAM), manufacturing accounted for $2.91 trillion of the GDP in the first quarter of 2023, representing nearly 11% of the total economic output of the country. In fact, on its own, U.S. manufacturing Is the eighth-largest economy in the world.
Furthermore, manufacturing in America fuels the export industry, promoting the growth of international trade. The U.S. Department of Commerce reported that manufactured goods accounted for nearly $1.6 trillion of exports in 2022.This demonstrates the importance of manufacturing in strengthening the balance of trade and increasing the country’s competitiveness in the global market.
2. It Creates Jobs
Where there is manufacturing there are also jobs. Providing employment opportunities nationwide, Deloitte notes that advanced manufacturing and technology supports over 40 million jobs. In addition to providing a pathway to financial stability and upward mobility for many individuals and families, the impact of manufacturing creates jobs outside of the industry. The Economic Policy Institute states that for every job created in the manufacturing sector creates, three more outside of it are created due to spending in other parts of the economy.
The importance of manufacturing can be seen in the number of job opportunities it creates in America.
3. It Propels Technological Advancements Forward
American manufacturing drives technological advancements through continuous investment in research and development. Collaboration between manufacturers, universities, and research institutions fosters innovation and the development of cutting-edge technologies. Contributing to advancements in fields such as robotics, artificial intelligence, and materials science. In fact, Deloitte reports that 90% of private-sector research goes into US advanced manufacturing and technology.
4. It Bolsters National Security
The importance of manufacturing to America’s national security is made up of two pillars. The first pillar is its support of our defense. Producing aerospace products, military vehicles, advanced weaponry, and other vital technologies is integral to the nation’s ability to defend itself.
The second pillar is supply chain resilience. Producing essential goods domestically ensures America can reduce its dependence on foreign suppliers, mitigating the risk of disruptions in the global supply chain. This is particularly significant for critical sectors such as defense, aerospace, and healthcare, where reliable and secure supply chains are imperative.
Winndeavor: Your Trusted American Manufacturing Partners
The importance of American manufacturing cannot be overstated. It is paramount to the economy, job market, national security, and more. Winndeavor is proud to be part of this long-standing American tradition. We look forward to partnering with you as we offer decades of experience and modern technology to deliver exceptional quality, speed, and reliability. Here for all your precision machining needs, reach out to our experts today.
